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Business news :JD (UK) stabilizes Blacks’ outdoor retail business.
JD Sports in Glasgow
The JD Sports Fashion group (UK) saw its operating profit before one-off
costs shrink to £3.2 million for the 26 weeks until 28 July, down from £16.2 million for the same weeks in 2011, chiefly due to the disruption
caused by acquisitions. The British sports fashion retailer bought
Blacks Leisure, the outdoor retailer, out of administration in January,
and it acquired two fashion retailers in the last months. However, the
JD group continued to enjoy organic growth, with a comparable sales
expansion of 1.2 percent for its sports fashion stores in the U.K. and
Ireland. Adding acquisitions and store openings, in France and Spain,
the group’s sales reached nearly £556 million, which was a rise of 26.4
percent. Its comparable operating profit dropped by 8.2 percent to £14.9 million. JD said its outdoor retail business was stabilizing and it was
aiming to break even in the second half before restructuring charges.